Robeco Institutional Asset Management B.V. Boosts Stock Holdings in Chevron Corporation $CVX

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Chevron Corporation by 6.1%, owning 489,887 shares worth approximately $70.1 million after acquiring an additional 27,966 shares in the second quarter.
• Chevron's recent quarterly earnings exceeded expectations, reporting $1.77 EPS, which topped the consensus estimate of $1.58, amid a 12.4% year-over-year revenue decline.
• The company declared a quarterly dividend of $1.71 per share, resulting in an annualized dividend of $6.84 and a yield of 4.5%, with a payout ratio of 88.03%.

Robeco Institutional Asset Management B.V. increased its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 6.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 489,887 shares of the oil and gas company's stock after purchasing an additional 27,966 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Chevron were worth $70,147,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC increased its holdings in Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company's stock valued at $13,214,757,000 after buying an additional 83,702,101 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Chevron during the 1st quarter worth approximately $1,466,751,000. Nuveen LLC purchased a new position in shares of Chevron during the 1st quarter worth approximately $1,362,232,000. Charles Schwab Investment Management Inc. boosted its position in Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock worth $5,592,263,000 after acquiring an additional 1,574,464 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Chevron by 141.2% during the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company's stock worth $316,483,000 after acquiring an additional 1,107,628 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on CVX. Morgan Stanley began coverage on shares of Chevron in a report on Monday, August 4th. They issued an "overweight" rating and a $174.00 price target on the stock. TD Cowen lifted their price target on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, August 4th. Mizuho cut their target price on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating on the stock in a research note on Monday, September 15th. UBS Group raised their target price on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $165.05.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of the business's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company's stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Chevron Stock Performance

Chevron stock opened at $153.53 on Friday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a market capitalization of $265.30 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 1.97 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The firm's fifty day moving average price is $156.26 and its 200 day moving average price is $149.14.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the previous year, the firm posted $2.55 EPS. The firm's quarterly revenue was down 12.4% on a year-over-year basis. On average, research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron's payout ratio is 88.03%.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.

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